Tax-News.Com Archive

Sponsored by: PEARSE TRUST
Independent advice on corporate and trust structures

ARCHIVE ROOT | TODAY'S NEWS | LOWTAX

Jiway Adds S & P 500 And Nasdaq Stocks To European Range
Jason Gorringe, Tax-news.com, London

15 December 2000

Jiway, the electronic exchange that started trading a range of UK and French stocks on November 17th from its London offices, added more French and some top O-list Swedish stocks to its range from 1st December, making available a total of more than 400 stocks, and on December 8th Jiway announced that constituents from the NASDAQ 100 and S&P 500 indices were available for trading.

Jiway’s total volume in the first two weeks of trading amounted to 2,892 trades, with a high of 840 trades on 29 November. Per Swensson, Chief Executive of Jiway, said, "Over the past fortnight, Jiway has demonstrated a solid and promising start to its operations. Step by step, we are providing retail investors with a broadening range of international equities, and a sophisticated yet streamlined system through which to trade them. We currently have brokers accessing Jiway from Sweden and the UK, and the most popular stocks so far have been French. This supports our view that retail clients want to trade across borders, and as a consequence we are adding further French stocks to facilitate this."

Jiway Holdings Ltd, parent company of Jiway, also announced that it has appointed Ian Cohen as Chief Executive of Jiway Broker Services AB (JBS). JBS, based in Stockholm, provides the clearing, settlement and safekeeping services for Jiway Limited. Separately, banks and brokerage firms can contract a complete online trading facility, including front and back office systems, hardware, communications equipment and back-up facilities from Jiway Broker Services.

Ian Cohen joined Morgan Stanley Dean Witter in 1998 responsible for Y2K business relationships for Europe, and for the management of the MSDW European Y2K team. Since January 2000, he has led the MSDW project team on the post-trade side of the Jiway project. Morgan Stanley Dean Witter is co-proprietor of Jiway with the Swedish OM Group.

Per Swensson said, "With Ian at the helm, Jiway Broker Services will enter a new phase with a broader international focus. Ian has a great track record in post trade and back office work, and we are delighted that he has joined us."

Bo Hägg, present Managing Director of Jiway Broker Services, will assume a business development role with Jiway Holdings, the parent company.

Jiway Holdings Limited was announced on 8 February 2000. It operates Jiway Limited - the RIE headquartered in London - and Jiway Broker Services AB - headquartered in Stockholm. Jiway Limited is an electronic order and quote driven market providing a single access point to UK, Swedish and French shares, with guaranteed liquidity and prices no worse than the underlying exchange. Jiway Limited acts as the central counterparty, thereby offering anonymous trading with reduced risks, and also offers global safekeeping services to its clients.

Jiway Limited was granted Recognised Investment Exchange (RIE) status on 31 October 2000.

.

 


IMPORTANT NOTICE: TAX-NEWS.COM has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. All materials on this site copyright TAX-NEWS.COM 1999 to 2007. Contact us for further information.